Netflix to stop password sharing

Netflix is cracking down on password sharing.

COLUMBIA, S.C. (WOLO)— Netflix is cracking down on password sharing.

In a letter to shareholders, the streaming giant said it will start blocking subscribers from sharing passwords with people outside their household in the coming months.

Netflix plans to roll out a paid-sharing plan.

It piloted a similar program in Latin-America, where subscribers could add a sub-account for an additional $3 a month.

Netflix says it realizes some people may cancel as a result, but it expects that borrower households activating their own accounts will counter-balance that revenue loss.

Currently, Netflix allows multiple profiles under a single account, but the profiles are intended to be used by members of the same household.